--- title: "Transfermate PTE. LTD. · Major Payment Institution (MAS) · Singapore | Elucidate" description: "Transfermate PTE. LTD. is authorised by Monetary Authority of Singapore (MAS) as a major payment institution in Singapore. Register status, licences, activities and ownership." url: https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3 --- 1. [Directory](https://elucidate.co/directory) 2. [Singapore](https://elucidate.co/directory/country/sg) 3. Transfermate PTE. LTD. Singapore · Payments & e-money # Transfermate PTE. LTD. TransferMate Pte. Ltd. is a company incorporated in Singapore and the Singapore entity of the TransferMate payments group, which has its global headquarters in Kilkenny, Ireland. The Monetary Authority of Singapore (MAS) authorises the firm as a Major Payment Institution under licence PS20200412. The licence covers cross-border money transfer, domestic money transfer, account issuance and e-money issuance. MAS approved the last three services in November 2025. The firm offers the group's business-to-business payments platform, including Global Accounts that let businesses hold funds locally, to businesses operating in and out of the Asia-Pacific region. Register status Licensed in Singapore Major Payment Institution · Monetary Authority of Singapore (MAS) Prudential licence [1 licence or registration ↓](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#licences) BIC **No BIC** LEI **No LEI mapped** [Licence no. **Not published by the register**](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#licences) ## Licences and registrations Held by Transfermate PTE. LTD.. 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026. | Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [MAS Financial Institutions Directory - Major Payment Institution](https://elucidate.co/directory/register/mas-mpi) Monetary Authority of Singapore (MAS) | Major Payment InstitutionPayment Institution | Not published by the register | [Singapore](https://elucidate.co/directory/country/sg) | Active | — | — | - Money remittance - Payment services - E-money / stored value | [Search the register ↗](https://eservices.mas.gov.sg/fid) | - Each licence applies in the country of the regulator that granted it. - Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here. ## Swift network Swift’s ISO 9362 BIC directory Holds no BIC in Swift’s directory. No LEI is matched to this entry, and BICs are linked by LEI only. ## Overview Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#overview-sources) Customers Not published Employees Not published Ownership Group subsidiary Firm type FX and business payments Trades as TransferMate - **Ownership:** The firm belongs to the TransferMate group, which was founded by Terry Clune and forms part of his CluneTech group. Its direct shareholder has not been confirmed from a primary source. - **Head office:** 20 Anson Road, #06-18, Twenty Anson, 079912 Singapore, Singapore - **Founder:** Terry Clune ### Online - **Websites & references:** [transfermate.com ↗](https://www.transfermate.com/) [transfermate.io ↗](https://www.transfermate.io/) client platform sign-in and registration [Wikipedia ↗](https://en.wikipedia.org/wiki/TransferMate) group article - **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/transfermate) · [X ↗](https://twitter.com/transfermate) · [Instagram ↗](https://www.instagram.com/transfermategp/) Sources · 13 pages consulted 1. [eservices.mas.gov.sg/fid/institution/detail/223812-TRANSFERMATE-PTE-LTD](https://eservices.mas.gov.sg/fid/institution/detail/223812-TRANSFERMATE-PTE-LTD) 2. [transfermate.com/company/regulations](https://www.transfermate.com/company/regulations) 3. [transfermate.com/company/contact-us](https://www.transfermate.com/company/contact-us) 4. [transfermate.com/company/about-us](https://www.transfermate.com/company/about-us) 5. [transfermate.com/legal/safeguarding](https://www.transfermate.com/legal/safeguarding) 6. [transfermate.com/legal/terms-and-conditions](https://www.transfermate.com/legal/terms-and-conditions) 7. [transfermate.com/company/security](https://www.transfermate.com/company/security) 8. [transfermate.com/post/transfermate-obtains-approval-from-mas-to-vary-its-existing-major-payment-institutio](https://www.transfermate.com/post/transfermate-obtains-approval-from-mas-to-vary-its-existing-major-payment-institution-license-in-singapore) 9. [transfermate.com/post/transfermate-receives-in-principle-approval-from-monetary-authority-of-singapore-to-](https://www.transfermate.com/post/transfermate-receives-in-principle-approval-from-monetary-authority-of-singapore-to-add-payment-services) 10. [transfermate.com/post/transfermate-appoints-gary-conroy-as-new-ceo-succeeding-sinead-fitzmaurice](https://www.transfermate.com/post/transfermate-appoints-gary-conroy-as-new-ceo-succeeding-sinead-fitzmaurice) 11. [transfermate.com/post/transfermate-and-serrala-partner-to-bring-global-payments-into-finance-automation-wo](https://www.transfermate.com/post/transfermate-and-serrala-partner-to-bring-global-payments-into-finance-automation-workflows) 12. [transfermate.com/post/transfermate-partners-with-bvnk-to-bring-real-time-stablecoin-settlements-to-global-](https://www.transfermate.com/post/transfermate-partners-with-bvnk-to-bring-real-time-stablecoin-settlements-to-global-payments-network) 13. [en.wikipedia.org/wiki/TransferMate](https://en.wikipedia.org/wiki/TransferMate) ## Authorisation Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#overview-sources) - **Operates under:** Its own licences MAS authorises the firm as a Major Payment Institution under licence PS20200412. The licence covers account issuance, domestic money transfer, cross-border money transfer and e-money issuance services. | Authority | Licence or registration | Number | Held | Status | Source | | --- | --- | --- | --- | --- | --- | | Monetary Authority of Singapore Singapore | Major Payment Institution (account issuance, domestic money transfer, cross-border money transfer, e-money issuance) | PS20200412 | In its own name | Active | [eservices.mas.gov.sg ↗](https://eservices.mas.gov.sg/fid/institution/detail/223812-TRANSFERMATE-PTE-LTD) | Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks. ## Partners and safeguarding Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#overview-sources) - **Safeguarding:** Segregated safeguarding accountsAt group level, TransferMate states that client funds are held in segregated client accounts, kept separate from its own funds, and are never lent out or used as security. [transfermate.com ↗](https://www.transfermate.com/legal/safeguarding) Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices. ## Products and markets Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#overview-sources) - International money transfer - Multi currency accounts - Domestic payments - FX conversion - Payouts and mass payments - FX hedging The firm provides the TransferMate group's embedded business-to-business payables, receivables and Global Accounts services in Singapore, including local holding of funds under its varied MAS licence. The firm serves businesses from Singapore under its MAS licence. The group states that its network reaches more than 200 countries and territories in more than 140 currencies. - **Sells to:** Enterprises · Small businesses · Platforms and marketplaces · Financial institutions - **Serves customers in:** Singapore - **Latest funding round:** USD 70m 2022 Led by Railpen, Marshall Wace [transfermate.com ↗](https://www.transfermate.com/company/about-us) ## Leadership Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#overview-sources) - **Chair:** Terry Clune Co-Founder & Executive Chairman (TransferMate group) Confirmed 29 Sep 2026 · [transfermate.com ↗](https://www.transfermate.com/company/about-us) - **Executive:** Gary Conroy President and Chief Commercial Officer (TransferMate group) Confirmed 29 Sep 2026 · [transfermate.com ↗](https://www.transfermate.com/post/transfermate-and-serrala-partner-to-bring-global-payments-into-finance-automation-workflows) - **Chief financial officer:** Brid Saruwatari Chief Financial Officer (TransferMate group) Confirmed 29 Sep 2026 · [transfermate.com ↗](https://www.transfermate.com/company/about-us) - **Compliance / MLRO:** Alex Clements Head of AML (TransferMate group) Confirmed 29 Sep 2026 · [transfermate.com ↗](https://www.transfermate.com/company/about-us) - **Executive:** Barry Henderson Chief Risk Officer (TransferMate group) Confirmed 29 Sep 2026 · [transfermate.com ↗](https://www.transfermate.com/company/about-us) ## Recent events Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/transfermate-pte-ltd-cf04f21d27b3#overview-sources) 1. Jun 2026 Other TransferMate announced that it had selected BVNK as stablecoin infrastructure partner for its global network, its first step into digital assets. [transfermate.com ↗](https://www.transfermate.com/post/transfermate-partners-with-bvnk-to-bring-real-time-stablecoin-settlements-to-global-payments-network) 2. Nov 2025 Licence MAS approved the firm's licence variation, adding account issuance, domestic money transfer and e-money issuance services to its Major Payment Institution licence. [transfermate.com ↗](https://www.transfermate.com/post/transfermate-obtains-approval-from-mas-to-vary-its-existing-major-payment-institution-license-in-singapore) 3. Aug 2025 Licence MAS granted the firm in-principle approval to add account issuance, domestic money transfer and e-money issuance to its licence. [transfermate.com ↗](https://www.transfermate.com/post/transfermate-receives-in-principle-approval-from-monetary-authority-of-singapore-to-add-payment-services) 4. Apr 2025 Leadership The TransferMate group announced the appointment of Gary Conroy as Chief Executive Officer, succeeding Sinéad Fitzmaurice. [transfermate.com ↗](https://www.transfermate.com/post/transfermate-appoints-gary-conroy-as-new-ceo-succeeding-sinead-fitzmaurice) Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source. ## Identifiers - **BIC:** Holds no BIC in Swift’s directory - **LEI:** No LEI mapped - **Elucidate firm ID:** cf04f21d27b3 ## Profile - **Type:** Payments & e-money - **Regulation:** Prudential licence - **Main licence class:** Payment Institution - **Activities:** - Money remittance - Payment services - E-money / stored value - **Licensed in:** [Singapore](https://elucidate.co/directory/country/sg) · East Asia & Pacific - **First registered:** Not published Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet. ## Ownership and group GLEIF relationship records No LEI is matched to this entry, so GLEIF relationship records cannot be linked. ## Addresses - **Address on the register:** 20 ANSON ROAD, #06-18 TWENTY ANSON 079912, Singapore, 079912 - **Country:** Singapore ## ISO 20022 identification As an agent in a Swift cross-border payment message (CBPR+) This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code. - **Identified by:** Name and postal address. No LEI or clearing code is mapped in the directory - **Postal address:** Hybrid: town, postcode and country in their own elements, the rest in two address lines ```xml TRANSFERMATE PTE. LTD. 079912 Singapore SG 20 ANSON ROAD #06-18 TWENTY ANSON 079912 ``` - The address line repeats the town or postcode. Remove the repeat if your payment system rejects it. CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent. The values are as published by the register. Check them against your own records before use. ## Related institutions ### Other payments & e-money institutions in Singapore - [Atlas Consolidated PTE. LTD. · trading as Hugo No BIC Payments & e-money Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 9845005BPECFKD4ED973](https://elucidate.co/directory/atlas-consolidated-pte-ltd-dd9bff35ebe7) - [Triple A Technologies PTE. LTD. · trading as TripleA No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 984500DA4B5DE9599547](https://elucidate.co/directory/triple-a-technologies-pte-ltd-35777ab55bbd) - [Jst Digital Trading & Technology PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 254900VFSNIDSSI4MR30](https://elucidate.co/directory/jst-digital-trading-and-technology-pte-ltd-0b04a7881932) - [Paxos Global PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINTRAC-MSB · LEI 254900HKUGCSEE1Z8626](https://elucidate.co/directory/paxos-global-pte-ltd-f0e62912b4de) - [Ripple Markets Apac PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 98450060F9F56F87ED90](https://elucidate.co/directory/ripple-markets-apac-pte-ltd-05ecaf0d5a45) - [Stonex Financial Pte. Ltd. BIC IGLUSGSG Payments & e-money Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · LEI 984500C5005644B14P13](https://elucidate.co/directory/stonex-financial-pte-ltd-iglusgsg) - [Xrex PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 2549000QE6HHWJLNL230](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7) - [2C2P Pte. Ltd. No BIC Payments & e-money Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · No LEI mapped](https://elucidate.co/directory/2c2p-pte-ltd-4eb1a068b1fb) [See all →](https://elucidate.co/directory/search?type=payments&cc=SG) [Other entries on MAS-MPI →](https://elucidate.co/directory/register/mas-mpi) Sources & method Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI. An institution missing from these registers is not necessarily unregulated. Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists. An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page. [Read the methodology →](https://elucidate.co/directory/methodology) Register for this page - **MAS Financial Institutions Directory - Major Payment Institution**—Monetary Authority of Singapore (MAS) · [source ↗](https://eservices.mas.gov.sg/fid) as at 25 September 2026 - **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source. ## Assess the financial crime risk behind a licence A licence records what an institution is authorised to do; it does not assess it. The [Elucidate FinCrime Index (EFI)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions. [Book a demo](https://elucidate.co/demo-request) Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.